Is Mid-City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mid-City has remained a Seller's Market.
Key Takeaway
Mid-City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mid-City, CA
How much do homes in Mid-City, CA cost?
Median Sold Price
$735,000
$643/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mid-City have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Mid-City was $735,000 in May 2024, up 9.8% from last year, and the median price per square foot was $643.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $360K | $390K | +8.3% |
| 2 Bedrooms | $550K | $620K | +12.7% |
| 3 Bedrooms | $809.5K | $847.5K | +4.7% |
| 4 Bedrooms | $897.5K | $999.4K | +11.4% |
| 5+ Bedrooms | $1.3M | $1.4M | +8.1% |
Summary: Mid-City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Neighborhoods
| El Cerrito | $540K | $655K | +21.3% |
| Mid-City | $669.1K | $735K | +9.8% |
Housing Supply in Mid-City, CA
How many homes are available in Mid-City, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 237 | 253 | +6.8% |
Summary: The Mid-City real estate market had 253 homes for sale in May 2024, a 6.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 29 | 26 | -10.3% |
| 2 Bedrooms | 89 | 92 | +3.4% |
| 3 Bedrooms | 88 | 101 | +14.8% |
| 4 Bedrooms | 20 | 18 | -10.0% |
| 5+ Bedrooms | 11 | 16 | +45.5% |
Summary: The Mid-City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10.3%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 14.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 45.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 79 | 81 | +2.5% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mid-City, you could pay more than the asking price. 53.1% of homes here sold above asking price last month.
Summary: A total of 81 homes were sold or pending in Mid-City in May 2024, up by 2.5% month-over-month. Of the 81 sold homes, 27% were sold under asking, 20% were sold at asking, and 53% were sold over asking.
Days on Market for Mid-City, CA
How long does it take to sell a home in Mid-City, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 18 Days | +18.6% |
Summary: Homes in Mid-City had an average of 18 days on market in May 2024, up by 18.6% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mid-City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 81 homes were sold in Mid-City; 83% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.